Fortinet, Inc. $FTNT is First National Bank of Mount Dora Trust Investment Services’ 5th Largest Position

First National Bank of Mount Dora Trust Investment Services decreased its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 105,670 shares of the software maker’s stock after selling 4,686 shares during the period. Fortinet comprises about 3.3% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 5th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Fortinet were worth $16,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Norges Bank purchased a new position in shares of Fortinet during the fourth quarter valued at $1,152,917,000. Bank of New York Mellon Corp grew its holdings in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after buying an additional 893,190 shares in the last quarter. First Trust Advisors LP raised its position in Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after buying an additional 3,598,487 shares during the period. Finally, Invesco Ltd. raised its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 475,157 shares of company stock worth $69,480,964. Corporate insiders own 17.60% of the company’s stock.

Fortinet Price Performance

NASDAQ FTNT opened at $159.64 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $117.13 billion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The company has a 50 day moving average price of $153.54 and a two-hundred day moving average price of $112.10. Fortinet, Inc. has a 12-month low of $72.83 and a 12-month high of $172.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FTNT shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. Truist Financial set a $183.00 price target on shares of Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Susquehanna raised their price target on shares of Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, TD Cowen reaffirmed a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $150.91.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.